The central problem of central banking
Mainstream financial publications are managing to write whole feature articles about an inflationary crisis in a country like Nigeria, without properly addressing the issue that is at the core of economic problems in almost every country on earth.
This, in my opinion, makes these publications, who clearly ought to know better, complicit in a fraud that is being perpetrated on people everywhere.
The central problem, of course, is central banking. It really is as simple as that. Central banking, at its core, has become a mechanism for governments to steal purchasing power from their people. In countries like Nigeria, Argentina and Turkey the theft is very overt, in the US and the European Union, it has historically been more subtle.
The expropriation of purchasing power usually works for a while, as long as an economy is doing fairly well and people feel that the tide is lifting their boat sufficiently.
It stops working when economic growth stalls or when governments have overstepped their welcome and the wider population has become so impoverished by inflation that they have nothing left to do but to question and destabilize the social order.
In the US and Europe we have reached that point. How much longer our governments can uphold the illusion of control and economic prosperity is now anyone’s guess.
For those of us who recognize this problem, it is our responsibility to raise awareness about it with our fellow citizens so that we can jointly hold politicians to account (it may be too late) or start running for the exit (Bitcoin, Gold and self-sovereignty)
